VAT is one of the first obligations any startup faces after formation — understanding it early spares you penalties and complications later.
When must you register?
Registration is triggered by reaching the legal revenue threshold, so track revenue monthly to avoid crossing it unregistered. Some activities carry special provisions — check with your tax advisor at formation.
Return basics in year one
File monthly returns on time — even for months with no transactions.
Keep purchase invoices to deduct input tax.
Connect invoicing to the e-invoicing system from day one.
A simple, accurate system beats a complex one nobody follows — as the business grows, the tax cycle can evolve gradually.